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CRYPTO TAX SECRETS (Can You SKIP A Taxable Event?)Crypto-to-crypto trades in Canada trigger a taxable event based on the fair market value of the assets swapped at the time of the transaction. Where a taxable property or service is exchanged for cryptocurrency, the GST/HST that applies to the property or service is calculated based on. Is crypto taxable in Canada? Yes. The Canada Revenue Agency (CRA) is clear that crypto is subject to Income Tax. You'll pay Income Tax on half of.